This film is historically important because it is the first Sherlock Holmes film. Fans and readers of Arthur Conan Doyle will love to watch how his hero (his name at least) was used in movies almost from the very beginning of cinema.
More details on Wikipedia:
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Sherlock Holmes Baffled is a very short American silent film created in 1900 with cinematography by Arthur Marvin. It is the earliest known film to feature Arthur Conan Doyle's detective character Sherlock Holmes, albeit in a form unlike that of later screen incarnations. The inclusion of the character also makes it the first recorded detective film. In the film, a thief who can appear and disappear at will steals a sack of items from Sherlock Holmes. At each point, Holmes's attempts to thwart the intruder end in failure." (source:
Sherlock Holmes Baffled on Wikipedia)